The liquidity preference theory distinguishes between ________
A) nominal and real quantities
B) money and financial assets
C) buying goods and earning interest income
D) all of the above
E) none of the above
D
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By definition, a direct expenditure offset will occur whenever
A) the interest rate falls. B) the interest rate rises. C) the government increases spending in an area that competes with the private sector. D) the government increases spending for the military.
Ball found that the disinflation of the early 1980s in the United States had a sacrifice ratio of about
A) 0. B) 1. C) 2. D) 3.
In long-run equilibrium, a firm in perfect competition has no economic profit.
Answer the following statement true (T) or false (F)
In the short run, the price charged by a monopolistically competitive firm attempting to maximize profits:
A. must be less than ATC. B. must be more than ATC. C. may be either equal to ATC, less than ATC, or more than ATC. D. must be equal to ATC.